Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
ROUYN-NORANDA, QC, March 13, 2013 /CNW/ – Since the decisions to be made shortly by the Québec government following the Forum will clearly have a major impact on the future of our industry, we believe that it is essential to mobilize and to make known the views of around 40,000 people whose livelihoods depend on the mining industry in Québec. Behind the government’s decision lie people, workers and families. At Major Drilling Group International Inc. – Eastern Canada Division, we speak on behalf of over 400 workers.
Québec’s mining industry, one of the driving forces of our regional economy, is not opposed to the payment of royalties, provided they allow a form of mineral resource development that is profitable and economically acceptable.
It is important to understand the key contribution made by the mining industry to Québec’s economy. When a mining company invests in Québec, billions of dollars are awarded in the form of contracts in all regions, helping to create or maintain an incalculable number of direct and indirect jobs.
In our view, the mining tax regime should promote both mining investment in Québec and the creation of a stable revenue stream for the Québec government.
